Boral share price charges higher amid controversial CEO appointment

Boral has named its new CEO…

| More on:
A graphic showing a businessman running up a white upwards rising arrow symbolising the soaring Magellan share price today

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Key points

  • Boral's shares are charging higher on Wednesday morning
  • Investors have responded positively to the appointment of its new CEO
  • Vik Bansal will be joining the company in December

The Boral Limited (ASX: BLD) share price is charging higher on Wednesday morning.

At the time of writing, the building products company's shares are up 6% to $3.03..

Why is the Boral share price rising?

The Boral share price is lifting today after the company announced the appointment of its new CEO.

According to the release, Boral has made the controversial decision to name Vik Bansal as its new leader, effective on or before 5 December.

Last year, Mr Bansal stepped down from the role of CEO of waste management company Cleanaway Waste Management Ltd (ASX: CWY) amid a scandal which saw him accused of creating a culture of workplace bullying. This overshadowed an otherwise highly successful six years at Cleanaway.

Zlatko Todorcevski will remain in the CEO role until transition to Mr Bansal is completed.

'The right leader'

Boral's Chairman, Ryan Stokes, was pleased with the appointment of Mr Bansal. He said:

Vik is a seasoned leader with extensive experience, and has a track record of instilling discipline and efficiency in complex businesses to create value for all stakeholders. "He is the right leader to guide the Company into a new era. Vik has the passion, commitment and strategic leadership skills required to drive a performance orientated culture with a focus on productivity, stakeholders and leveraging Boral's competitive advantages.

Mr Bansal said he was delighted to be appointed the leader of an "iconic" company. He commented:

Boral is an iconic and compelling business with great assets and a well-respected and motivated workforce. I am excited to be part of Boral's next phase of creating value for all its stakeholders through a culture of safety, and focus on service, sustainability and simplification.

Should you invest $1,000 in Australia And New Zealand Banking Group right now?

Before you buy Australia And New Zealand Banking Group shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Australia And New Zealand Banking Group wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 3 April 2025

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

One girl leapfrogs over her friend's back.
Share Gainers

Guess which ASX All Ords stock just doubled investors' money in a month

Investors have sent the ASX All Ords stock up 100% in just one month. But why?

Read more »

two computer geeks sit across from each other with their laptop computers touching as they look confused and confounded by what they are seeing on their screens.
Share Market News

Why are a record number of retail investors buying in the dip?

Recency bias is driving retail investors to buy shares during market volatility.

Read more »

Small chocolate bunnies.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors ended the short trading week on a high today.

Read more »

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.
Share Fallers

Why Imricor, Nanosonics, Perpetual, and Tourism Holdings shares are sinking today

These shares are having a tough finish to the week. But why?

Read more »

Ecstatic man giving a fist pump in an office hallway.
Share Gainers

Why Brainchip, Challenger, Clarity, and Gorilla Gold Mines shares are storming higher

These shares are rising more than most on Thursday. But why?

Read more »

A woman sits at her computer with her chin resting on her hand as she contemplates her next potential investment.
Share Market News

Which sectors does Macquarie expect to see lower demand if there is an economic slowdown?

If you are sifting through the wasteland for opportunities and sectors to avoid, here’s what one broker has to say.

Read more »

A man holding a cup of coffee puts his thumb up and smiles while at laptop.
Broker Notes

Goldman Sachs says this ASX 200 share is dirt cheap

The broker sees big returns on the cards for buyers of this stock.

Read more »

Three people in a corporate office pour over a tablet, ready to invest.
Broker Notes

Top brokers name 3 ASX shares to buy today

Here's what brokers are recommending as buys this week.

Read more »